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asian shares fall as bond selloff continues amid cooling rate cut hopes
Asian equities fell for a second consecutive day as Wall Street paused after a significant rally, with the MSCI AC Asia Pacific Index dropping by up to 1.1%. Australian and Japanese markets declined, while Chinese markets saw slight gains. The bond market continued to struggle amid diminishing expectations for Federal Reserve rate cuts.
election uncertainty should not deter long-term investment strategies
US equities are at record highs as the presidential election approaches, with the S&P 500 experiencing its longest winning streak this year. Despite election-related volatility, strong earnings growth and economic momentum suggest that investors should remain invested rather than make drastic portfolio changes. The election outcome may take weeks to determine, and potential market reactions will depend on the actual implementation of policies by the winning candidate.
global economic outlook shaped by deflation and central bank actions
German producer prices are expected to remain in deflation, reinforcing expectations for further ECB rate cuts. In China, the central bank has lowered mortgage reference rates, signaling support for the economy, though concerns about domestic demand persist. Meanwhile, uncertainty surrounds U.S. Federal Reserve policy as the election season intensifies, with economic perceptions diverging from reality.
aud usd faces downward pressure amid economic data and political dynamics
The AUD/USD closed at 0.6706, marking a third consecutive week of declines from a September high of 0.6942, pressured by strong US economic data and revised Fed rate expectations. With Australia's data calendar light, focus shifts to upcoming CPI data, while support remains at 0.6650/25. A sustained break below this level could trigger further declines towards 0.6575/60.
gold prices expected to rise amid safe haven demand and rate cuts
Gold prices are expected to rise over the next 6-12 months, driven by declining interest rates and strong central bank purchases. Analysts predict prices could reach $2,900 per ounce by September 2025, supported by geopolitical tensions and economic uncertainty, despite potential slower rate cuts from the Federal Reserve.
Bitcoin surpasses 68000 as investors eye 70000 amid election hopes
Bitcoin has surged past $68,000, with the $70,000 mark now in focus as investor risk appetite remains high, fueled by hopes for Donald Trump's candidacy and potential interest rate cuts from the Fed and ECB. The ECB is expected to lower its deposit rate by 25 basis points, while the Fed's meeting on November 7 is anticipated to yield a similar cut. The upward momentum could lead to a challenge of the all-time high near $73,700, though profit-taking risks should be considered.
ubs raises s and p 500 year end target to 5850 points
UBS has raised its year-end target for the S&P 500 index to 5,850 points, up from 5,600. The adjustment reflects expectations of strong economic and profit growth, alongside the Federal Reserve's easing cycle and a supportive economic environment.
ubs raises s and p 500 year end target to 5850 points
UBS has raised its year-end target for the S&P 500 to 5,850 points, up from 5,600, citing corporate earnings growth and favorable economic conditions. The index has surged 22.85% in 2024, reaching a record high of 5,859.85 points. UBS also increased its 2025 target to 6,400, driven by anticipated interest rate cuts and strong technology stock performance.
ubs raises s and p 500 year end target to 5850 points
UBS Global Research has raised its year-end target for the S&P 500 to 5,850 points, up from 5,600, citing corporate earnings growth and favorable macroeconomic conditions. The index has surged 22.85% in 2024, reaching a record high of 5,859.85 points. Additionally, UBS increased its 2025 target to 6,400, driven by anticipated interest rate cuts and strength in technology stocks.
ubs raises s and p 500 year end target to 5850 points
UBS Global Research has raised its year-end target for the S&P 500 to 5,850 points, up from 5,600, citing corporate profit growth and a supportive macroeconomic environment. The index has surged 22.85% in 2024, reaching a record high of 5,859.85 points. UBS also increased its 2025 target to 6,400, anticipating further gains driven by technology stocks and a series of interest rate cuts by the Federal Reserve.
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